On Friday, base metal prices at the Shanghai Futures Exchange settled higher but LME prices were drifting lower as investors awaited the advance estimate of 1st quarter GDP in the U.S. (Due to our attendance at MRAI’s 2013 India Metal Recycling Conference in New Delhi, the Friday Report comes out before today’s GDP release.) In London, LME 3-mo. copper reportedly traded as low as $7,095/mt ($3.218/lb.) this morning and LME 3-mo. aluminum dipped as low as $1,928/mt (87.45 cents/lb.), although today’s reports on GDP and consumer sentiment could significantly change investor sentiment. Stocks in Asia were mixed today but the major bourses in Europe were all in negative territory this morning as the FTSE 100 declined 0.5% and stock indexes in France and Spain were off more than 1%. The Euro eased to around $1.3003 early this morning ahead of today’s economic releases in the U.S…
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